State Street Corporation announced that it has been selected to provide fund accounting, fund administration and investor servicing for AZ Quest, an asset manager based in Sao Paulo, Brazil. State Street will provide this range of services to the AZ Quest Fund SPC and its segregated portfolios.
“We are pleased to announce this relationship with AZ Quest, as we continue to expand our capabilities across the region, furthering our goal of supporting leading institutional clients throughout Latin America,” said Marcia Rothschild, State Street head of Latin America. “We look forward to working with AZ Quest to help generate and sustain growth to meet their investment objectives.”
The announcement strengthens State Street’s continued growth in Latin America. In 2023, State Street announced the opening of a new office in Colombia, following the 2022 office opening in Chile to help the firm serve and support institutional clients in the region. Additionally, in 2021, the firm announced that its Brazilian bank, Banco Comercial (formerly known as Natixis Brasil S.A. – Banco Múltiplom), began offering full foreign exchange (FX) trading capabilities and sales operations.
“We are excited to tap into State Street’s expansive set of capabilities to help scale our existing offerings and continue to deliver excellence and innovation for our clients,” noted Hebert Almeida, partner and head of Operations of AZ Quest.
According to Fund Pro Latin America, AZ Quest had USD 4.5 billion in assets under management as of end of January 2024 data.
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